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REGISTERED NUMBER: 07781312 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2023

FOR

R. I. E. LIMITED

R. I. E. LIMITED (REGISTERED NUMBER: 07781312)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


R. I. E. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2023







DIRECTORS: U F Michla
H U F Michla
I U F Michla





REGISTERED OFFICE: Ground Floor, St Paul's House
23 Park Square
Leeds
LS1 2ND





REGISTERED NUMBER: 07781312 (England and Wales)





ACCOUNTANTS: Sedulo Leeds Limited
St Paul's House
23 Park Square
Leeds
West Yorkshire
LS1 2ND

R. I. E. LIMITED (REGISTERED NUMBER: 07781312)

BALANCE SHEET
31 MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,284 1,774

CURRENT ASSETS
Debtors 5 25,989 14,647
Cash at bank 400 400
26,389 15,047
CREDITORS
Amounts falling due within one year 6 31,732 26,813
NET CURRENT LIABILITIES (5,343 ) (11,766 )
TOTAL ASSETS LESS CURRENT LIABILITIES (4,059 ) (9,992 )

CAPITAL AND RESERVES
Called up share capital 4 4
Retained earnings (4,063 ) (9,996 )
SHAREHOLDERS' FUNDS (4,059 ) (9,992 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

R. I. E. LIMITED (REGISTERED NUMBER: 07781312)

BALANCE SHEET - continued
31 MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 February 2024 and were signed on its behalf by:





U F Michla - Director


R. I. E. LIMITED (REGISTERED NUMBER: 07781312)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2023


1. STATUTORY INFORMATION

R. I. E. Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The principal activity of the company in the year under review was that of the export sale of motor vehicles.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The presentation currency of the financial statements is the Pound Sterling, which is the functional currency of the company, rounded to the nearest £1.

At the time of signing these accounts, having considered the economic climate, the Directors expectations and intentions for the next twelve months, and the availability of working capital, the Directors are of the opinion that the Company will remain viable for the foreseeable future and therefore these Financial Statements have been prepared on the Going Concern basis.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


R. I. E. LIMITED (REGISTERED NUMBER: 07781312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 June 2022
and 31 May 2023 25 22,249 2,589 24,863
DEPRECIATION
At 1 June 2022 20 21,048 2,021 23,089
Charge for year 1 301 188 490
At 31 May 2023 21 21,349 2,209 23,579
NET BOOK VALUE
At 31 May 2023 4 900 380 1,284
At 31 May 2022 5 1,201 568 1,774

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 25,989 14,647

R. I. E. LIMITED (REGISTERED NUMBER: 07781312)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MAY 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 3,960 2,827
Taxation and social security 18,418 14,682
Other creditors 9,354 9,304
31,732 26,813

7. RELATED PARTY DISCLOSURES

At the balance sheet date the sum of £14,860 was owed to the company by U F Michla and H U F Michla (2022: £9,743).

Interest of £244 (2022: £189) was charged on the balance, the loan has no set terms of repayment..